The EMA sent a letter in response to the EBA Opinion on the nature of passport notifications of payment institutions (PIs) and electronic money institutions (EMIs) using agents and distributors located in another Member State.
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Electronic Money Association
The Electronic Money Association is the European trade body for electronic money issuers and payment institutions.
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Regulated firms operating x border face increasing gold-plated AML requirements at local level e.g. appointment of local contact points, data & SAR reporting to local regulators; this reduces firms' ability to dedicate resources to AML-TF risks across the firm. #StopDirtyMoneyEU
🔴Follow the #StopDirtyMoneyEU conference on #AML.
#JMCampa, the #EBA Chair, is starting his panel now.
🎦http://pscp.tv/w/1vOxwkoovbRxB https://twitter.com/EU_Finance/status/1311274932811239425
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